Petrol near 100 mark: see new rates for Mumbai, Kolkata and Chennai after 3rd hike
Petrol and diesel prices have been hiked again across India for the third time in 10 days. Check latest fuel prices in Delhi, Mumbai, Kolkata and Chennai.
by Zee Media Bureau · Zee NewsPetrol and diesel prices were increased again on Saturday, marking the third fuel price hike in the last 10 days. Petrol prices rose by 87 paise per litre, while diesel became costlier by 91 paise per litre. The repeated increase in fuel prices is likely to put more pressure on people already facing high daily expenses.
Also Read: Watch | Mother helps son plan surprise for dad - seconds later, she gets the shock of her life
According to reports from ANI, the latest revision has pushed the price of petrol in Delhi to Rs 99.51 per litre, while diesel now costs Rs 92.49 per litre. Similar price hikes have also been seen in other metro cities.
Petrol prices in metro cities
- Delhi – Rs 99.51 per litre (+0.87)
- Kolkata – Rs 110.64 per litre (+0.94)
- Mumbai – Rs 108.49 per litre (+0.90)
- Chennai – Rs 105.31 per litre (+0.82)
Diesel prices in metro cities
- Delhi – Rs 92.49 per litre (+0.91)
- Kolkata – Rs 97.02 per litre (+0.95)
- Mumbai – Rs 95.02 per litre (+0.94)
- Chennai – Rs 96.98 per litre (+0.87)
CNG prices also increased in major cities
CNG prices have also gone up sharply. They have increased by Rs 1 per kg to Rs 81.09 per kg in Delhi, with effect from May 23. Last week, CNG prices in Delhi increased by a total of Rs 3 per kg to Rs 80.09. This is the first time CNG prices in the national capital have crossed the Rs 80 per kg mark.
The rise in CNG prices has also triggered protests. Drivers in Delhi called for a three-day strike from May 21 to May 23, demanding a fare hike and protesting against the rising fuel costs.
Rising fuel prices may affect household budgets
Experts believe the increase in petrol, diesel, and CNG prices could raise transport costs and retail inflation. This may also lead to higher prices of goods and public transport services in the coming days.
Why are fuel prices increasing
State-owned oil companies started increasing fuel prices in phases from May 15. They said the hikes were necessary because of rising global energy prices linked to tensions in the Middle East.
Fuel prices were first increased by Rs 3 per litre on May 15, followed by another hike of around 90 paise on May 19. With the latest increase, fuel prices have risen by nearly Rs 5 per litre within less than two weeks.
Middle East conflict behind global oil price rise
Fuel prices are rising at a time when the world is facing a major energy crisis due to the ongoing conflict in West Asia. The conflict has also disrupted movement through the Strait of Hormuz, one of the world’s most important oil shipping routes.
Global crude oil prices have remained very high since fighting involving the US, Israel, and Iran began earlier this year. Brent crude oil prices have continued to stay above 100 US dollars per barrel as efforts to secure a long-term ceasefire have failed to bring stability to the region.
The conflict has also raised fears of supply disruptions because many West Asian countries are among the world’s largest oil producers. However, India has said there is no shortage of fuel in the country and that enough petrol and diesel supplies are available.